His last engagement was as CFO for Agility Group AS, a full-service engineering, procurement, construction, installation and commissioning (EPCIC) company for the oil and gas industry, owned by HitecVision Private Equity. He led a successful turnaround involving bolt-on acquisitions, business closures, internal organizational restructuring, reworked project execution procedures, strengthened governance and internal controls, and implemented a company-wide work process and quality system improvement project. He managed the pre-exit preparation and carve-out and was a member of the exit team that successfully sold the EPCIC business division to Wood Group Mustang in 2014.
Mr. Sivertsen acted as CEO for a start-up of renewable industry (ethanol from sugarcane) in Brazil with 1,700 employees and a capex budget of USD 300 million, sponsored by Umoe Group AS in Norway. He was also CFO for Umoe Group AS, a holding company of a diversified portfolio of direct investments in shipping, restaurant concepts, marine safety equipment, telecom and electro installation, ITC services, marine composite fabrication, property development, agricultural equipment, offshore geo-seismic services, gold exploration, solar industry and production of bio ethanol, with consolidated turnover of approximately USD 1 billion. In this role, he implemented a new governance system, improved management reporting, raised more than USD 500 million of new financing for the group and facilitated M&A execution.
Mr. Sivertsen worked 12 years for Aker Kvaerner Group, a listed global company providing EPCIC services and fabrication to the oil and gas industry and to onshore process industries including pulp and paper, and a considerable shipbuilding industry. He was the CFO for three years of the onshore process division, and was nine years earlier the group treasurer of Kvaerner Group with a total turnover of USD 10 billion. During his period as treasurer, he managed the financial integration of Trafalgar House PLC into Kvaerner Group, a USD 1.3 billion acquisition, and also was a member of the team working the financial turnaround of Kvaerner Group in 2001 leading to the merger with Aker Oil & GAS in 2002. Before this, he worked for three years as Group Treasurer for I.M.Skaugen ASA.
Mr. Sivertsen studied business economics and administration at the Norwegian School of Management (BI) and graduated from IMD Executive Management Program, sponsored by Kvaerner Group. He holds a certificate from Norsk Fondsmeglerforbund, Autorisation Corporate Finance. As a Norwegian national he is fluent in Norwegian and English and has good knowledge of Swedish and Danish.